LNG

Avenir LNG, a small-scale niche market joint venture involving Stolt-Nielsen Ltd, the shipping and storage group and its Norwegian peers, Hoegh LNG and Golar LNG, is now registered on the Oslo over-the-counter market after holding a private share placement.

May 16 (LNG) - Belgian LNG fleet owner Exmar, a specialist in floating storage and regasification units, is organizing a series of investor meetings in connection with the refinancing of its outstanding 1 billion Norwegian crowns ($117.5 million) of senior unsecured bonds maturing in July 2017. “A senior unsecured bond offering with up to a 3-year tenor may follow,” said Exmar. It has mandated several Nordic banks and brokerages to organize the meetings, including DNB Markets, Pareto Securities, Nordea Bank Norge and Skandinaviska Enskilda.

April 27 (LNG) - Flex LNG said it was considering entering a transaction for the acquisition of two M-type, electronically-controlled, gas-injection (MEGI) LNG carriers currently under construction at Daewoo Shipbuilding and Marine Engineering in South Korea and scheduled for delivery in the second and third quarters of 2019. The Flex ships would be purchased from affiliates of its biggest shareholder Geveran Trading, indirectly controlled by trusts established by the Norwegian shipping tycoon John Fredriksen. Flex has already partially financed the deal for the two ships through a private placement of shares to raise around $125 million at 12 Norwegian crowns ($1.40) per share. The Nordic investment banks and broking companies Arctic Securities, DNB Markets, Fearnley Securities AS and Pareto Securities acted as joint lead managers in the placement.